Ukraine Sends Back UAE Bid for Drone Maker Fire Point
Ukraine's anti-trust body returned a $760 million bid from UAE-based EDGE Group for a stake in drone maker Fire Point. The application failed to meet criteria.
Xurve View
Xurve View
The anti-monopoly committee of Ukraine has returned an application regarding a $760 million investment in the country's leading drone and missile manufacturer, Fire Point. The bid, submitted by a defense conglomerate based in the United Arab Emirates, was sent back after failing to meet necessary regulatory standards. The committee identified the EDGE Group as the counterparty in the transaction, confirming earlier reports regarding the scale of the deal. In a formal statement addressing the status of the acquisition, the agency clarified the procedural standing of the bid.
The committee received the application on December 30 but had not accepted it for review because it did not meet the required criteria.
